State Appeals Court Upholds
Convictions of Kozlowski, Swartz

By

Chad Bray

Updated Nov. 15, 2007 5:48 p.m. ET

NEW YORK -- A state appeals court Thursday upheld the criminal convictions of former Tyco International Ltd. Chief Executive L. Dennis Kozlowski and former CFO Mark H. Swartz on charges they systematically looted the Bermuda conglomerate.

The New York State Supreme Court's Appellate Division for the First Department rejected arguments by Messrs. Kozlowski and Swartz that their June 2005 convictions should be overturned.